Satish Chitoori Sells 1,020 Shares of Bloom Energy Co. (NYSE:BE) Stock

Bloom Energy Co. (NYSE:BE) insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Bloom Energy Stock Down 1.3 %

BE stock opened at $23.88 on Wednesday. The stock’s fifty day simple moving average is $24.08 and its two-hundred day simple moving average is $19.14. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83. The stock has a market cap of $5.50 billion, a P/E ratio of -42.64 and a beta of 3.30.

Analyst Upgrades and Downgrades

BE has been the subject of several recent research reports. Truist Financial boosted their price objective on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. BTIG Research boosted their price objective on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. Robert W. Baird boosted their price objective on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. TD Cowen boosted their price objective on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a report on Friday, February 28th. Finally, UBS Group boosted their price objective on Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BE. SPX Gestao de Recursos Ltda purchased a new position in shares of Bloom Energy during the 4th quarter valued at $4,442,000. Duff & Phelps Investment Management Co. bought a new position in Bloom Energy in the 3rd quarter worth about $517,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Bloom Energy by 184.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company’s stock worth $9,209,000 after acquiring an additional 262,247 shares during the last quarter. Edgestream Partners L.P. bought a new position in Bloom Energy in the 3rd quarter worth about $3,274,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Bloom Energy by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock worth $36,737,000 after acquiring an additional 10,265 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.